XAUUSD: Gold Faces Key Inflection Point This Month

From youtube.com/justinbennettfx

XAUUSD broke key support on Thursday, but will it hold into the daily close, and what does that mean for Friday? Gold has had an eventful week. Monday’s session tested the $3,370 resistance area, as noted in the Weekly Forex Forecast. It’s a level we discussed in VIP last week as a target for XAUUSD when the market was trading at $3,322 last Thursday. Tuesday’s session was relatively quiet, marking a lower low within the context of a descending channel since June. However, Wednesday’s Trump vs. Powell drama triggered a sweep of Monday’s highs. It was also another retest of the $3,370 resistance area.